HR 7058
Rewarding American Workers Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Rewarding American Workers Act of 2020 provides a payroll tax credit to employers for bonuses paid to employees who worked continuously during the COVID-19 pandemic. This credit is designed to help businesses recognize and reward workers who maintained employment during a challenging period. The amount of the credit is based on the employee's annualized covered period wages, with a maximum bonus of $600 for employees earning between $55,000 and $99,000. Excess credits exceeding employment taxes are refundable, and the legislation includes provisions for advance payments and guidance to ensure proper implementation.
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Primary sponsor
Tom Reed
Cosponsors
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